Smaller stock to watch
ITIS HOLDINGS, the AIM-listed telematics specialist, added 2½p at 25½p on a contract with Land Rover to supply its RDS-TMC service as standard across all models fitted with factory installed satellite navigation. Other Ford marques already use the system, including Aston Martin, Jaguar and Volvo. ITIS also announced a tie-up with O2 to develop a traffic monitoring system.
Directors’ dealings
SENIOR, the small-cap automotive and aerospace engineer, was pegged at 39p as a non-executive director became the second board member to buy stock in the space of a week. Martin Clark more than doubled his stake by buying 30,000 shares at 39½p, following the lead of James Kerr-Muir, chairman, who last week picked up the same amount at 37.2p.
Bet of the day
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THE odds against Philip Green winning control of Marks & Spencer narrowed yesterday, after the Bhs owner’s £8.4 billion bid — worth 370p a share — was rejected by the M&S board. Cantor Index, lengthened its odds of a Green bid succeeding from 5-4 to 2-1 against. Odds against M&S remaining independent narrowed from 6-4 on to 5-2 on.